Fisker Stock Is Rising Monday: What's Going On?

Fisker Inc FSR shares are trading higher Monday. The stock appears to be moving higher after the company reached new agreements with a 2025 convertible notes investor.

What Happened: In a new regulatory filing, Fisker said it reduced its outstanding debt under its 2025 convertible notes by $185.5 million after an investor converted a portion of 2025 notes to equity.

Fisker’s outstanding debt under its 2025 convertible notes was reduced from $510 million to $324.5 million.

“I am pleased that we were able to reach an agreement with one of our investors that will provide increased flexibility and better position us to execute on potential strategic business deals,” said Henrik Fisker, chairman and CEO of Fisker.

Fisker said the company and the investor agreed that upon a definitive agreement with a strategic OEM partner, any liens on intellectual property would be released.

Fisker also announced that it held the largest global meetup of owners in company history after approximately 2,500 current owners and prospective customers gathered at 24 locations to share experiences and test drive vehicles.

Fisker noted that owners expressed significant interest about future features and models during the event.

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FSR Price Action: Fisker shares were up 31.1% at $1.03 at the time of publication, according to Benzinga Pro.

Photo: courtesy of Fisker.